United Services Automobile Association Has $1.38 Million Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

United Services Automobile Association reduced its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 4.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,762 shares of the company’s stock after selling 716 shares during the period. United Services Automobile Association’s holdings in American Electric Power were worth $1,383,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hodges Capital Management Inc. bought a new stake in American Electric Power during the 1st quarter worth about $1,615,000. Quantbot Technologies LP acquired a new position in American Electric Power during the first quarter valued at approximately $1,731,000. Nordea Investment Management AB increased its position in shares of American Electric Power by 381.9% during the 1st quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock worth $171,127,000 after purchasing an additional 1,581,734 shares during the last quarter. Mizuho Markets Americas LLC boosted its holdings in shares of American Electric Power by 646.9% in the 1st quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock valued at $22,510,000 after buying an additional 226,435 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in shares of American Electric Power by 21.7% in the 1st quarter. ProShare Advisors LLC now owns 582,692 shares of the company’s stock valued at $50,170,000 after acquiring an additional 103,771 shares during the period. 75.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Guggenheim raised their price target on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Morgan Stanley upped their price objective on shares of American Electric Power from $95.00 to $102.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. BMO Capital Markets raised their target price on shares of American Electric Power from $105.00 to $109.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Bank of America upped their price target on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $95.15.

American Electric Power Stock Performance

AEP opened at $103.66 on Tuesday. The firm has a market cap of $54.64 billion, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54. The business’s fifty day moving average is $96.13 and its 200-day moving average is $89.82. American Electric Power Company, Inc. has a 52-week low of $69.38 and a 52-week high of $104.41. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65.

American Electric Power (NASDAQ:AEP) last released its earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.02. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The firm had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the prior year, the company earned $1.13 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. Sell-side analysts expect that American Electric Power Company, Inc. will post 5.59 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a yield of 3.40%. American Electric Power’s dividend payout ratio (DPR) is presently 65.31%.

American Electric Power Company Profile

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.